How long does it take to transfer usdt to kucoin
At a Glance: You can withdraw coins from KuCoin and transfer them to a different wallet. The withdrawal process involves several steps, including logging in, selecting a token, confirming with 2FA, and completing your withdrawal.
When you start the exciting task of trading cryptocurrencies on a crypto exchange like KuCoin, one of your primary concerns should be how you can withdraw your assets.
After all, when dealing with crypto, it’s inevitable that you’ll have to make snap decisions that adapt to the situation. This can include withdrawing your money as fast as you can.
In this article, we’re going to talk all about making withdrawals on the KuCoin platform.
Can You Withdraw Coins from KuCoin?
You can withdraw coins from KuCoin and transfer them to a different wallet.
Unfortunately, KuCoin doesn’t convert your asset into fiat currency. You can only send and receive cryptocurrency assets like Bitcoin.
If you want to withdraw a particular asset, you need to ensure that the receiving wallet caters to that kind of cryptocurrency. Otherwise, you will first have to convert the asset on KuCoin into a cryptocurrency that can be deposited into the other wallet.
For example, if you want to withdraw BTC, you must make sure that your receiving wallet can receive BTC. You won’t be able to withdraw your BTC on KuCoin if the receiving wallet isn’t compatible with it.
That said, despite its limitations, withdrawing money from KuCoin is easy and convenient. The next section will show you the process for making withdrawals on the KuCoin platform.
How to Withdraw from KuCoin
Withdrawing money from KuCoin has several phases: logging in, selecting a token, confirming with 2FA, and completing your withdrawal. In this section, we’ll discuss each stage step-by-step.
1) Log Into Your KuCoin Account
The first step in withdrawing your account is logging in to the KuCoin platform.
- Open KuCoin and scroll down to find the log-in button.
- On the platform, click Assets. On the mobile app, this tab can be found at the very bottom of the interface.
- Choose Withdraw. This option will be located on the upper portion of the mobile app interface.
2) Select a Token
After that, you’ll have to choose a token from the drop-down menu. Ensure that the destination wallet supports the token you want to withdraw. Otherwise, you might lose your money.
When withdrawing, keep in mind that you will also have to make sure that the money is in the main account and not the trading account. You can’t directly transfer from your trading account to an external wallet.
Another thing to keep in mind is that there are minimum withdrawals. Make sure to double-check that you have enough tokens on your main account, or else your transaction won’t go through.
3) Satisfy the 2-Factor Authentication
Although it can be a bit of a hassle to users, KuCoin makes use of the 2FA and the Trading Password protocols for your good.
The trading password refers to another password that lets you do transactions within the KuCoin platform. Meanwhile, the 2-Factor Authentication process ensures that the verified user is really the one currently using the account.
These security features ensure that the user’s assets are protected from potential threats. This way, even if hackers or other malicious individuals manage to gain access to your account somehow, they won’t be able to proceed with the transactions.
Here’s the complete security process that you have to go through to proceed with your withdrawal on KuCoin.
- First, input your 6-digit trading password.
- You will then have to enter your email address to access the verification code. Once you have typed your email address, hit Send Code. Keep in mind that you can switch to SMS Verification, as well, in case your email account is unavailable to you at the moment.
- Then, go to the Google Authenticator app on your mobile device.
- A code will show up on your screen. Take note of this.
- Go back to the platform and enter the verification code before the set time limit.
4) Complete the Withdrawal
Before you complete the withdrawal process, take your time to make sure that your details are correct.
Double-check the withdrawal address and the token type that you’re planning to withdraw. As mentioned, the receiving wallet should be able to support the token you’re planning to send to it.
Also, take note that different tokens charge different fees. Ensure that you’ve calculated everything properly and made allowances for the minimum amount needed.
Remember, when dealing with cryptocurrency transfers, even the most minor mistakes can result in your money disappearing for good. That’s why it’s important to double-check that every detail is correct.
If everything is as it should be, then go ahead and click the blue Submit button.
How Long Will a KuCoin Withdrawal Take?
KuCoin withdrawals typically take around 30 minutes. That’s because it usually takes that long for KuCoin to process each transaction.
However, if you withdraw large amounts, processing time may take longer. KuCoin categorizes this as larger than 100,000 times the handling fee.
The reason for this is KuCoin manually processes large transactions to ensure the security of the user’s assets.
In addition to this, the speed of the blockchain network handling your transactions will also determine how fast your wallet will receive your processed amount.
KuCoin Withdrawal Fees
KuCoin implements different withdrawal fees for different tokens. There’s also a minimum withdrawal amount that varies per token.
For instance, the current withdrawal fee for Bitcoin is 0.0005 BTC with a minimum amount of 0.002 BTC, while the withdrawal fee for Ethereum is 0.01 ETH with a minimum amount of 0.02 ETH. You can find the full list on the platform or on third-party listings. Take note, these fees might change depending on market prices.
As the cryptocurrency market is thought to be one of the most volatile around, often losing and gaining value multiple times per day, make sure always to check the transaction fees before you complete your order.
What is KuCoin?
KuCoin is a beginner-friendly crypto exchange launched in 2017 by founders Michael Gan and Eric Don.
Traders have a lot to benefit from this exchange platform. Aside from the appealing low fees, KuCoin also allows users to use multiple trading methods such as P2P and futures trading. There’s also a staking and lending feature on the platform, which means users have multiple ways to earn money with cryptocurrency.
One of its most remarkable features is its comprehensive list of cryptocurrencies. Around 400 coins are available for trading on the platform, resulting in a healthy economy with excellent trading volumes for millions of users.
In fact, as of 2021, KuCoin already has over 10 million users. So, if you’re looking for a trustworthy and beginner-friendly exchange to trade in, KuCoin should be at the top of your list.
Withdrawals on KuCoin: Final Thoughts
Withdrawals are one of the most anticipated events when trading with cryptocurrency. After all, it’s how you reap the rewards of your hard work.
Thus, you have to make sure that you know KuCoin’s withdrawal process like the back of your hand. You don’t want your hard-earned crypto tokens to be lost in the void because of a small error.
KuCoin makes withdrawals quick and easy, but there are still dangers if you don’t know how it works. With this article, though, you now know what you need to make a successful withdrawal on the KuCoin platform.
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- In this guide, we’ll show you how you can transfer Tether from Binance to KuCoin in three easy steps
- TRON-based USDT (TRC20) is the fastest and most cost-effective way to transfer Tether from Binance to Kucoin
- The whole crypto transfer process shouldn’t take longer than a couple of minutes
How to send Tether from Binance to KuCoin?
Transferring Tether (USDT) from Binance to Kucoin is pretty simple, and a similar process can be applied to any cryptocurrency that’s supported on both websites. In essence, you’ll have to withdraw assets from your Spot Wallet on Binance and deposit them to your Main Account on KuCoin.
In this article, we’ll be showing you how you can transfer USDT from Binance to KuCoin to trade cryptocurrencies that are listed on KuCoin.
What is Binance?
Binance is the most popular cryptocurrency exchange in the world, offering a multitude of services ranging from spot cryptocurrency trading to cryptocurrency derivatives, staking, and interest-rate bearing crypto lending products under the Simple Earn banner. Binance lists a huge selection of cryptocurrencies that can be traded across more than 1,200 trading pairs.
Create Binance Account
What is KuCoin?
KuCoin is a popular cryptocurrency exchange that’s popular among altcoin traders. Since its launch in 2017, KuCoin has introduced numerous new features to expand its offering of trading products. Even though Binance is a bigger exchange than KuCoin, KuCoin lists some smaller cryptocurrencies that are not available for trading on Binance.
Create KuCoin Account
Step-by-step guide: Binance to KuCoin USDT transfer
The process of transferring coins from Binance to Kucoin is pretty straightforward. Let’s take a step-by-step look at how to transfer USDT from Binance to KuCoin.
1. Get your USDT deposit address on KuCoin
On KuCoin, go to your Main Account and click on “Deposit” next to the selected coin, in this case, Tether (USDT).
Select the network (blockchain) you’d like to transfer USDT tokens on. Please note that different exchanges support different networks, and you need to select a network that’s supported both on the exchange you’re withdrawing from and the exchange you’re depositing to.
Since both Binance and Kucoin support TRC20 (USDT on the TRON network), we’ll be using it in this example. Transferring USDT on the TRON network is the cheapest way to transfer from Binance to Kucoin. It is also faster when compared to the Ethereum and OMNI networks.
Make sure that you selected the correct type of token standard, which is TRC20 in our case. TRC20 is the standard used for tokens like USDT that are issued on top of the TRON network. Copy the address provided by KuCoin.
2. Withdraw USDT from Binance to your KuCoin USDT deposit address
If you don’t already have USDT on Binance, you’ll have to deposit some USDT to Binance or buy it on the exchange. Do note that trading fees apply.
How to buy Tether (USDT) on Binance?
Once you have some USDT in your Binance account, go to your Fiat and Spot Wallet on Binance and click Withdraw.
Paste the USDT deposit address you got from Kucoin and select the correct blockchain network you’re going to transfer your USDT on. In our example, this will be TRON, which is labeled as “TRX Tron (TRC20)” on Binance.
You’ll also have to select the amount of USDT that you want to transfer from Binance to KuCoin.
TIP: If you are doing this for the first time, we suggest that you first try with a smaller amount of USDT just to make sure that you’re doing everything correctly. If you successfully receive the smaller amount into your KuCoin account, you can then repeat the same process for the rest of the USDT that you want to transfer.
A 0.8 USDT withdrawal transaction fee will be deducted from the amount you will be receiving. So if your withdrawal amount from Binance is 1000 USDT, you’ll get 999.2 USDT on KuCoin. Once you’ve entered the withdrawal amount and are ready to withdraw from Binance, click Withdraw. The average time for TRON-based transactions to clear is about 5 minutes.
Based on the security settings you set up for your Binance account, you might have to provide an email security code and other security verification options to confirm the transaction. Once you complete the necessary security verification steps, your withdrawal request will be submitted and visible under Recent Withdrawals.
TIP: If you are using the same blockchain address when withdrawing crypto from Binance often, you can save it in your address book. This makes the process much faster, as whitelisted addresses don’t require email security codes and other security verifications for transaction confirmation.
3. Check your deposit on KuCoin
The USDT deposit should be available in your KuCoin account (the address you’ve entered as the withdrawal address in step 2) after a few network confirmations, which usually takes a couple of minutes. The deposit will be added to the Main Account and will be visible under your Deposit History. You can also check out the Tronscan block explorer to track the transaction on the TRON blockchain.
Now that you are familiar with how to send Binance to Kucoin, here is additional information to consider if you’re trying to transfer USDT or any other cryptocurrency between the two exchanges.
Binance account verification
If you hold more than 0.06 BTC worth of cryptocurrency on your Binance account and you’d like to transfer them to another crypto exchange or your wallet, you’ll need to verify your identity (KYC). This also applies if you’re trying to transfer an amount of USDT that’s more valuable than 0.06 BTC.
If you want to learn how you can verify your identity on Binance, we’ve prepared a guide that you can check out here.
Why would you want to transfer crypto from Binance to Kucoin or another exchange?
There are many reasons why you would want to move crypto assets between different exchanges:
- Different exchanges list different cryptocurrencies
- Some exchanges don’t offer all of their services to customers in certain jurisdictions
- Taking advantage of opportunities like lending and staking
- Arbitrage (this is typically viable only for professional traders)
- KuCoin doesn’t require users to complete KYC for daily trades amounting to 1 BTC or less
If you want to transfer USDT from Binance to other exchanges besides KuCoin, see guides below:
Is transferring Tether and other cryptocurrencies from Binance to Kucoin safe?
Transferring Tether (USDT) and other cryptocurrencies is safe as long as you make sure you’re using the proper network (blockchain) on both exchanges and that you inserted the correct deposit address associated with it.
When transferring for the first time, we strongly suggest that you select a smaller amount (for example, 10 USDT) before moving large sums. As always, check that you’re using the correct website (domain name and certificate) and use 2-factor authentication (2FA) as an additional layer of security.
Check our other guides to see how to transfer BTC and ETH from Binance to KuCoin:
Transferring USDT from Binance to KuCoin shouldn’t be problematic, as long as you follow a few precautions. The same basic concept also applies when trying to transfer other cryptocurrencies between these two exchanges. Just make sure that both exchanges support the same asset on the same network (this is especially relevant for USDT, which is available on many different blockchains). Hopefully, this guide helped you move your USDT between exchanges!